From the latest IPIX SEC filing: Note 12. Subse
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Posted On: 03/22/2018 8:47:37 AM
From the latest IPIX SEC filing:
Note 12. Subsequent Events
Equity Transactions
From January 1, 2018 to February 7, 2018, the Company has generated additional proceeds of approximately $0.6 million under the Common Stock Purchase
Agreement with Aspire Capital from the sale of approximately 0.9 million shares of its common stock.
On February 1, 2018, 3,333 shares of the Company’s restricted stock vested to Ms. Anne Ponugoti according to Ms. Ponugoti’s employment agreement. The total
taxable compensation to Ms. Ponugoti for the 3,333 vested shares was $2,433, which is priced at the closing stock price on January 31, 2018 at $0.73 a share. The
Company issued 2,645 common shares (net share issuance amount), which is approximately 79% of the total vested common share amount of 3,333 common
shares due to be issued to Ms. Ponugoti. The remaining 688 shares of common stock were withheld from Ms. Ponugoti for the payment of payroll taxes to the
Federal and State taxing authorities.
On February 5, 2018, the Board of Directors approved the retirement of 567,872 shares of its common stock in treasury, which shares are issued but are not
outstanding. These shares included the 688 shares withheld from Ms. Ponugoti, as a result, all treasury shares of the Company were retired.
So 900,000. shares divided by 27 trading days during that period indicates Aspire is averaging 33,333. shares sold per day so far in 2018. That is nowhere near the number some are claiming. I have no doubt whatsoever that longs are buying more shares than that per day. Conclusion is that yes there is some dilution but that dilution is not what is causing the erosion of the share price, manipulation and naked shorting is.
Nice retirement of shares by the BOD as well! Go IPIX!!!
Note 12. Subsequent Events
Equity Transactions
From January 1, 2018 to February 7, 2018, the Company has generated additional proceeds of approximately $0.6 million under the Common Stock Purchase
Agreement with Aspire Capital from the sale of approximately 0.9 million shares of its common stock.
On February 1, 2018, 3,333 shares of the Company’s restricted stock vested to Ms. Anne Ponugoti according to Ms. Ponugoti’s employment agreement. The total
taxable compensation to Ms. Ponugoti for the 3,333 vested shares was $2,433, which is priced at the closing stock price on January 31, 2018 at $0.73 a share. The
Company issued 2,645 common shares (net share issuance amount), which is approximately 79% of the total vested common share amount of 3,333 common
shares due to be issued to Ms. Ponugoti. The remaining 688 shares of common stock were withheld from Ms. Ponugoti for the payment of payroll taxes to the
Federal and State taxing authorities.
On February 5, 2018, the Board of Directors approved the retirement of 567,872 shares of its common stock in treasury, which shares are issued but are not
outstanding. These shares included the 688 shares withheld from Ms. Ponugoti, as a result, all treasury shares of the Company were retired.
So 900,000. shares divided by 27 trading days during that period indicates Aspire is averaging 33,333. shares sold per day so far in 2018. That is nowhere near the number some are claiming. I have no doubt whatsoever that longs are buying more shares than that per day. Conclusion is that yes there is some dilution but that dilution is not what is causing the erosion of the share price, manipulation and naked shorting is.
Nice retirement of shares by the BOD as well! Go IPIX!!!
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